The process of urbanization in the strategic positioning of the property market and institutional framework

 The process of urbanization in the strategic positioning of the property market and institutional framework (d)
mm Chinese real estate development study (under)
Watson
2010   7   8, published in market regulation of the successive failure of the original
reasons
with the beginning of this century the rapid increase in house prices, at least from 2003 onwards, the Government has repeatedly introduced measures to control the property market, house prices in the regulation of just the sound of has increased by many times. Because wages, especially as urbanization, migrant workers sign wage growth far behind the city's hot line and price earnings ratio is to the global peak. Why has again frustrated the regulatory objectives, This is obviously the first round of regulation and summarize the lessons learned to the subject.
First, we see that from the beginning of 2003 about 4 times the real estate is regulated mainly rely on bank and credit policies. question is, after all, banks commercial organizations, and basically have a listed stock company. banks from the simple tool of the government to commercial business would have been the outcome and direction of reform. This determines the regulation of commercial banks to real estate must be half-hearted implementation of the policy, evasive, irresponsible. while the overall tightness of the money supply situation is again determined by the overall national economy. So once the macro-climate change, the passage of time, the real estate credit controls must disappear, or even worse. because of the rise in house prices, land prices and residents of the mortgage is always the most reliable and stable banks and the most lucrative source of profits. it is not surprising, policies to stimulate the economy by the wind, home loans of commercial banks jumped into this round of soaring house prices, a major force behind the supply and demand imbalance. Bank, the driven by the profit and competitive species under control so that no attempt to use economic measures to control the regulators also disappointed. In fact, the lessons of U.S. subprime mortgage crisis have shown that commercial banks in the real estate bubble is precisely to guard against and monitor object, and not simply trust the government policy tools.
Second, rely on previous local government regulation of the implementation and execution. we noted earlier, land tenure system with a combination of policies may not allow local governments to reduce anthropogenic land supply to maintain the high land prices. However, because both the land or local investment and financing platform for the mortgage, are dependent on stable or rising land prices. Therefore, the local government's dependence on land revenue increase, so they must like to see house prices to steady increase in land prices, so as to provide more local government revenue sources. and around the city card for the household population of the efforts to build, each appointed officials of projects and vigorously infrastructure, beautification of the city's housing projects are intentionally or unintentionally boost price rise in land prices. So, and commercial banks, similar to the local government will also curb the trend of the central government when the derailment of the soaring housing prices, which can avoid much trouble and risk of their own. However, in order to suppress housing prices never falling land prices consistent with the interests of local government. Thus, prices were soaring, of course, there will be no local government initiative to significantly raise the supply of land or suppressed demand for power. and once the macroeconomic changes in wind direction, or a new round of renewed upsurge of real estate, local The Government will naturally follow the crowd, said to be housing prices will rise in the curb housing prices and promote stable and healthy development of real estate between the changes. the economy is hot, house prices rose much more to talk about regulation, emphasizing the tax reduction from the thorough investigation of the loan; economic cold, to drive growth, but also by Huanshui tax credit, helping developers to promote real estate development. so a few rounds down, developers Ye Hao, investment speculators worth mentioning, as well as home buyers generally feel that the government's weakness: that the real estate industry driving the demand for dozens of related departments, the Government can not be separated to ensure growth to the development of real estate; and real estate but also about the quality of bank loans and financial security, the Government can not but help to ensure stability in the real estate. the so-called housing The kidnapping of the national economy, real estate, said that the resulting sky. so get up and prices rise, or does not survive, edged rose, or even only rise gradually become the mainstream awareness. In this way, 10 years since the new century, when the turned out to stabilize the property market can be a volatile stock market gains 10 times, 20 times, all companies enter the real estate industry, and the brightest into store room full of social capital to hoard, as well as countries want to revive the industry difficult to start, with a total regulation of real estate is booming but, Ding Fei popularity, it is no wonder the.
Finally, the process of urbanization in the development of strategic positioning of the property market is not clear, this is difficult to control nature have a clear point. such as urban development income distribution in monopoly of the land question, as if the government can first cut a chunk of the remaining part of the operator who is who to grab. even he can get to the bulk, but also to ensure benefit-sharing developers, real estate speculators who do not suffer. Thus we see, such as land tax was originally an area for the real estate industry in general store to the weapon, but Diudiu with the use of tools has become a completely arbitrary. effect on the real estate market because the swelling profits speculative investment demand, it has not introduced effective measures to curb. and improve the housing transaction tax practice in the supply and demand imbalance has been borne almost all buyers. On the contrary, who can not or difficult to pass on the personal income tax, but was strange modifications to allow the volume of transactions in accordance with 1% mm 3%, all at 1% of actual charge. At the same time, open the door for speculative investment contracts in the national prevalence of false yin and yang, if unhindered. the property tax that is home ownership tax for many years, the vested interests of the boycott, the date or change directions, confusing. Again, our housing market is to take the road or simply want to uphold and protect the room housing the direction of two-track system has been unknown. This policy of increasing the protection of housing supply , because it is not, and there is no effective mechanism to solve the problem of financial resources and power, often become a kind of embellishment or stream in the paper. This year, prices soared on the wind and the case seems to be in response to accusations of inadequate supply of land developers, planning residential surge in the supply of land several times to 180,000 hectares, according to the current rate of 1.5 volume of 2.7 billion square meters of residential construction, according to the current level of 28 square meters per capita, for the year to nearly 1 million people to solve the housing, the National total foreign population of 1.5 billion, however, not all of two years to solve the existing problem of housing migrant workers will cease to exist, which is obviously impossible. For such there is no reliable means of supporting the building the Great Leap Forward economic plan, the market naturally believe. so developers invariably prefer to keep the amount or the price, hope the market will Forced the Government to ensure growth and maintain stability first abandoned child concessions. If so, then the prices as they wish in the future there may appear retaliatory rebound, brewing before the bubble burst more.
Thus, the regulation of the property market to really achieve the goal, to win the trust, to reverse the market expectations, to increase security or the maintenance of stability beyond the simple thought, get rid of short-term control of the gains and losses, clearly state in the entire the process of urbanization in the property market's basic strategic positioning and overall institutional framework, a strategic height and the development of China's property market into the long-term stable development of truly healthy track.
urbanization in the development of strategic positioning
the property market should be said that urbanization is Chinese property market in this historical phase in its development background, but also many people the biggest theme housing speculation. Why is it, how should understand the process of urbanization in the property market in the economic and strategic position in society do?
First, it should sure, the development of urbanization on the real estate industry has brought unprecedented opportunities and long-term broad space. more than the present total population of the developed world most populous country of 1.3 billion urbanization not only for the Chinese economy over the next two or three years provide the basis for sustained growth, will also have a significant impact the world economic pattern. Meanwhile, we should see clearly that China's urbanization is only the start of their period of accelerated development. because so-called urbanization, is that farmers into the public process. China's urbanization rate is currently calculated at about 46% of the 600 million urban population, but less involved in the industrialization of the approximately 150 million people of migrant workers, only 4.5 million urban household population, urbanization rate was only 34% of the real so. To further realize the changes of urbanization and digest this historical debt to the core of China's successful modernization is to reduce the cost of urbanization, the central link is to maintain the income of wage earners can afford housing ratio. Meanwhile, the side waste of money to pursue the city's luxurious style, side of the dormitory or camp with the long-term approach to placement of migrant workers plugging them outside of the public, has resulted in increasingly higher suicide rates and crime rates, will make the whole society pay a high price. This road of the city is doomed to go elsewhere. Therefore, reducing the cost of urbanization, thus ensuring smooth generation of migrant workers and urban housing conditions for low wage earners can afford the price, is the Chinese city the development of China and the only way the property market.
Second, residential, commercial, services, and urban-related infrastructure, supporting facilities related industries pulling dozens of national economy, which is the city pillar industry of national economy of the stage. But Strictly speaking, the real economy and employment is not driving real estate investment and development industry, but the construction industry. Now the real estate investment and development industry, accounting for the magpie's nest dove, profits continue, but the real backbone of the construction industry as in nobody's awake unskilled laborer, low profits, inadequate inputs, layers of sub-deduction, the overall poor quality of construction is difficult to take into account the energy saving and environmental protection needs. a large number of buildings is only an average of 30 years of life. This led to a large urban building demolition and construction of large resources great waste of energy. This type of extensive consumption of the road is our city such a populous country-and-coming go elsewhere. Therefore, the development of the property to re-establish the construction industry's status as a pillar industry of national economy, deprived of real estate development Commercial patent privileges, is to take the resource-saving needs of new urbanization. This will also break free of the real estate investment and development industry to the national economy hostage kidnapping, the government regulation of the real estate market has been free and independent space.
third, soaring house prices or the price of housing has never been, but land prices, while the value of their house after a year from the completion of derogation. As the limited land resources and geographic location monopoly, and its property rights and the right to benefit has never been paramount. This is the history of the world once dominated by large land tenure and the reason for landlords to be replaced. In the process of urbanization, urban and peri-urban land Because of its natural monopoly position, will certainly be a sharp rise in land values. countries share in taxes and redistribution of land value-added benefits to protect the entire population of the city of the basic civil rights including the right of residence, access to education and social security rights, with adequate social justice and legitimacy. Thus, in respect of land property rights and the legal right to use, based on a strong financial and tax levers to use, redistribution of land at all, take, hold and transfer of all aspects of the monopoly income, protect cities and towns of all citizens the basic right of residence, and to push local governments to achieve fiscal revenue from the land finance to change is the healthy development of urbanization and the direction of the property market.
Fourth, the initial stage of urbanization in China's domestic supply and demand imbalance, not so much because the housing too little, rather, is due to hold too uneven. the adjustment of income distribution is not to go too much government intervention in the market economy and wage decisions in the initial distribution, as is often less effective or even counterproductive. the Government should do is to eliminate the labor and civil rights in the identity discrimination. adjust the distribution of incomes, from low-end, is to give workers the bottom for many years the rights of migrant workers into the city, so that they can live and afford to live on the City Suites residential, and enjoy the corresponding rights of the people, not always hopelessly crowded dormitory-style barracks, so to avoid the tragedy of Foxconn style. When integrated into the city, scattered housing, to support the family when the people become the main labor market law itself will automatically reduce overtime and forcing a general increase in wages. From high-end, it is to make over possession of urban land and housing resources to people who bear the economic and social responsibility. can that currently exists in our country a lot of gray the case and the illegal income, with the number of residential units and what people have property and income to identify the most dominant and most accurate indicator of the relative. Therefore, institutional change in the property market has become a considerable extent the adjustment of income distribution starting point and center.
Fifth, protection of housing construction lagged far behind, since the housing reform in China since the biggest drawback of residential institutional arrangements. Therefore, the implementation of two-track residential construction, the implementation of both commercial and security policy of housing is necessary. But here the relationship There are two healthy, one must truly protect housing for low-income segments of the population, rather than being turned into quite a mixed bag room, privilege rooms, creating greater social injustice. Second, housing is still common in China market economy, growing middle class, the main channel of residential choice, therefore, protection of housing construction and general commercial housing price stability between the two can be neglected.
strategic positioning of the above, the guiding principles of reform of the property market can be summarized as resource conservation and in ensuring effective supply conditions, the protection of the basic needs of residential housing, regulation to improve the demand and curb investment demand, against speculative demand and restore the basic consumption of residential functions. Obviously, this is bound to touch too many vested interests. Therefore, , to avoid the property market again, this new round of regulation constraints and the vested interests of the pattern of abortion, the need for a series of institutional changes. through the design and arrangement of the new system, change the behavior of the parties involved in the property market and interest-oriented, the formation of the property market and healthy development of urbanization, a new pattern.
change the basic content of the property market system
property tax system involves institutional change, land use system, system of protection of housing construction, housing construction system and the government examination system to ensure that the aim of achieving the urbanization process in the real estate resource conservation and rational use of distribution to ensure that all workers in urban and housing and the price earnings ratio of long-term stability in a reasonable range. In the introduction of the order should be easier, step in place not only effectively eliminate hot line and the cumulative development of urban housing bubble, but also ensure that the market, financial and economic stability.
one
tax reform and property tax is to adjust the income distribution, supply and demand of the most effective weapons. now around a wide range of real estate in various taxes and fees, but the effect is poor, it should be a comprehensive clean streamline and focus on the redistribution of land value-added revenue, out of speculative investment demand, give priority to ensuring the basic consumption of housing functions.
First of all, to combat and suppress speculative investment demand to the market quickly cool the real estate resources to give priority to people's basic consumption needs. The sole purpose of investment in real estate speculation is speculation resale profit, so the role of direct income tax class, the effect is significant, and difficult to pass, Property tax reform should be preferred.
specific measures can be taken:
1, amend the land value increment tax deduction on the development of business requirements. The current list of deductible items, the range of articles, computational complexity, delay of Strong, operability is poor, so that land value increment tax collection over the years, has great elasticity and arbitrary, not only undermine the seriousness of the tax system, also contributed to the developers of the important reasons to hoard enclosure. Therefore, it should be greatly reduced and simplified deduction to restore the original meaning of land value increment tax. directly to the developer to obtain land and disposal of premises, land value added tax. so that you can fundamentally change the investment industry's huge profits in real estate development properties.
2, stop the implementation of the 1999 personal financial and tax departments in the transfer of the land value-added tax can be exempt real estate notice of the transfer of individuals from the housing recovery of non-levy of land tax, land value-added implementation of the existing four progressive rates (30% from the lowest to the highest 60% .) held that non-short-term speculative investors in real estate more than one year by the annual inflation rate reduced to allow value-added.
3, repealed in 2006 on the original purchase cost may not provide the amount of 1% of housing transactions -3% of all individual tax levy provisions modifications, sell all non-self-housing property in accordance with the existing income tax system imposes a 20% personal income tax, in order to plug loopholes for tax evasion. These two changes in the system can link to non-residents in the trading of land from the housing reverted to the main part of value-added of social redistribution of income. re-established owner-occupied housing consumption function, the transfer of housing greatly compressed margins, after the introduction of real estate speculation can cripple the existing and effective inhibition of real estate investment demand, investment demand for those who rely on speculation to promote the line and the hot urban housing prices rapidly cool.
4, to ensure the implement to curb speculative investment demand should be firmly against the prevalence of yin and yang of housing transactions in the contract. the tax department should be based on the true market transaction prices on a monthly or and adjusted quarterly to guide price of housing transactions, in order to prevent tax avoidance is not the real price contract should be signed when accepting the transfer prices to be temporary publicity, and to allow other buyers to higher contract price for this transaction at any price, forcing all the houses transfer to the real transaction price contract.
5, a comprehensive and substantial reduction of housing transactions and other business tax and deed transfer tax. Such tax imbalance in supply and demand of home buyers can easily be passed on in full, and not conducive to the general public because of the transfer of different housing needs of each other, to improve welfare and achieve win-win situation, dramatically reducing transaction turnover tax can squeeze speculative and investment demand, promote the active consumer market housing, and housing transactions for the intermediary service industry.
Second, the regulation of improving demand. to improve the housing needs of people with income levels of the natural requirements and should be protected. However, in order to prevent the advance from the level of social development, housing consumption, squeeze out the basic housing needs, housing tenure links have to go through the tax differential, guide and regulate a reasonable housing consumption, and further squeeze the housing speculation and investment resources of space occupied.
Second, land reform
existing urban land is monopolized by the local government urban state-owned land or demolition of rural collective land expropriation, compensation is not the Government do all kinds of conflicts caused by lack of injustice, is to be moved by wild speculations, the formation of another form of unfair distribution. that the monopoly of a single approach has resulted in the resumption growing social problems and legal issues, it is difficult to go out. Therefore, we should break the monopoly, the government-imposed dual system and the market for sale. to allow the state-owned or collective land use right conditions, according to city planning, their own applications to change the original land use at market prices to pay land tax and income tax accordingly. As the land value-added tax and income tax also taken the bulk of the land value, as the local government revenue can be protected, but to the property or use rights options, followed market rules, changes in local land finance for tax finance of local government functions corrected.
land reform is to address the other direction for many years in the local off-site settled the issue of migrant workers. that migrant workers can carry their settled in the local Rural Housing Index. migrant workers and their families, members of the public of the core issues of urbanization. existing rural construction land in China is mainly homestead 200,000,000 acres, or about 150,000 square kilometers (see Ministry of Land and writing The At the same time, take the live global urbanization Key pieces. central unified policy should be introduced for the stability of work of migrant workers to accept the town in which the appropriate allocation of construction land, the use of human power and financial resources have a positive urban resettlement of migrant workers settled.
Third, the protection of housing reform on public grievances
now housing the largest branch is the basic housing needs of ordinary working-class insecurity. the same time, work without accommodation, but also urbanization, which can not be settled with the workers the same rights of migrant workers the biggest obstacle . Therefore, the number of started a long lag and taste of the protection of housing construction, promoting the urbanization process and promote economic growth and stability, protect the fundamental importance of social equity and stability.
really good protection of housing construction, not only by the Chief command can not be taken for sport, but to do system design, a comprehensive solution to power system, sources of funding, planning, construction and building systems such as continuous operation.
protection of housing construction is the core of solving the problem of workers have their home. So to protect the room should be routed to the top of all residential construction. It should be clear, the protection of housing construction is a step by step reform of household registration system is a core component. The scale of construction and permanent residents should be no housing in the link. shall be pursuant to the appropriate approval of the Central construction land and construction of capital subsidy. Its aim is to meet the local population and household work for a certain number of years the local native population, including migrant workers in the basic housing needs. According to this need, the future protection of housing in general may be one-third of the total housing one half of new residential above. as long as the security room to solve the problem of workers living there, then, newly graduated college students and other towns in the stability of additional personnel, increased levels of minimum wage labor, shortening labor time , the new generation of migrant workers in cities and towns of the integration and improving the quality of the next generation of workers, to break the intergenerational transfer of poverty, and even the development of urban services to both the market and social infrastructure. can be said that whether the local employment of foreign population into the scope of protection is to protect the housing system, measure the touchstone of true and false. the protection of housing and the corresponding municipal building will also be supporting the process of the city an important engine for economic development.
protection of housing construction to play half of real estate investment role, must have the appropriate legislative, institutional and financial guarantees. should establish arrangements. The city should be parallel with the Land Reserve Center, the establishment of affordable housing development centers and housing support center to give the land and financial support. The state should give tax on affordable housing and financial support, to allow the housing trust fund and bond issue guidance and the formation of housing construction cooperatives. affordable housing to the community bidding, market operation, encourage the design units, developers, construction companies bid for construction. has a legal, there are institutions, land, capital, development of affordable housing can be truly up.
Finally, affordable housing must be worthy of the name, should not become disguised welfare housing aliasing distortion, privilege room. Therefore, through legislation and regulations strictly limit the protection of housing construction standards. the protection of housing should all be small size, per capita living space must be controlled to significantly lower the per capita area of social following. protection of public rental housing should be based, mainly low-rent housing, affordable housing design and quality may be poor, but greatly reduced and restricted to household size, and may not be transformed into ordinary housing. users security room of the change in economic conditions, should withdraw from the security room to ensure the protection of an independent closed room to run. ambiguous nature of the existing types of housing price, the unit should be a total ban on welfare housing. irrigating the protection of housing units should be encouraged, but must be unified security room area, and other standards and requirements for operation and management. cadres to mobilize non-security changes in the nature of space, space and other talents, the protection of housing are not allowed to borrow channels, but by the need for organs and units houses In the real estate market to buy. This ensures the protection of a variety of channels for low-income housing are the real class.
of Buildings to ensure that reform
we have pointed out that relevant departments of stimulating national economic growth, the pillar industry of employment the construction industry rather than the real estate investment industry. But the end of the construction industry a long period of industry, are not taken seriously. In particular, the general poor quality housing and residential construction, high energy consumption, short life, the useful lives of ordinary housing only foreign one-half to one third. Therefore, to fundamentally change the few people making big money in real estate investment and development companies, while the real army of the regiment engaged in the construction of buildings thin, low pay, mobility, engineering level contracting, quality assurance weak situation. State laws and regulations should be, on all aspects of construction finance, tax tilting, so that the real estate investment and development industry, a considerable part of the profit transfer to the construction industry, construction industry support it so that stability and quality of the team, with years Safety and security engineering capability. should use economic levers to promote and facilitate the construction of energy-saving environment-friendly housing, and international standards, the establishment of the design quality of the project construction enterprises lifetime responsibility.
urban construction, such as bears breaking the stick-style large-scale demolition CUHK is a serious waste of resources, housing an important reason for insufficient net. Therefore, the provisions of town planning legislation should be developed and modified, built a large area of residential demolition, shall be subject to the same level People's Congress examined and approved. removed not yet reached the building life cycle housing, should first be investigated for the resulting losses and waste of the relevant departments, personnel or legal responsibility for the design and construction unit of economic responsibility, avoid duplication present in many parts of the long-term major demolition and construction, demolition and construction of a waste of resources consumption-based Zaochengyundong.
V.
government examination system reform in China's current administrative system, the housing system reform to achieve our goal, to be incorporated into the government evaluation system. Here are two key indicators. First, workers have their home. the town government must formulate a plan to ensure that all workers in the local stable employment and housing. immigration policies around the world are stable for several years to allow foreigners to work legally to apply for citizenship. We need both outside cities and towns to the local working population, employment, and refuses to give yourself the employment needs of those who settled in town, is completely justified. as the main body of industrial workers in China today, not even a long stay in the work of urban households, but also, and we the nature of the socialist countries as incompatible. Thus, in a given period of time, step by step to ensure stable employment workers has its home, it should be the town government is the main indicator of performance evaluation. This will also help to curb tenure system of local government and urban development officials from the actual needs of the resident population, but for the small number of people to engage in the image of engineering and performance engineering.
in employment who have their home is the biggest obstacle to worry about more expansion cities . We do not want to dwell on the key development here, big cities or small towns in the debate group. because if you really want the development of small towns, it is the Government taking the lead, policy induced, for many military and political authorities, a large number of institutions, various corporate headquarters and the new major investment, take the initiative to medium and small cities and satellite cities and towns, so that the appropriate employment and housing dispersed natural population. Worst of all is the generation satirizes those who profess that he waited at the city, but also tilted to large cities would like to see a variety of resources, but to develop high-profile small towns, big cities and their services against the employment of foreign home. This poles apart, we must prevent and correct.
Another important indicator is the price earnings ratio. If we have not possible for most of the Chinese people back to welfare housing under the planned economy era, ordinary commercial housing prices will inevitably impact on the livelihood, especially the growing urban middle class vital interests. The so-called good job security room to allow any discussions in commodity prices off undesirable. Therefore, the price earnings ratio, especially in the main residential areas of urban office workers price earnings ratio should also be assessing the key indicators of town government. Now the first of the local Government has been holding stability, GDP growth in command , and it is our performance evaluation system are closely related. Therefore, as the national statistical offices to publish GDP indicators, regularly published price earnings ratio around the residential and employment protection than the target population. This assessment and the corresponding social public opinion not only urge the Government to truly urban livelihood issues into their main agenda, but also to promote the rational planning of urban construction, urban groups and the rational distribution of satellite towns, the construction land in a reasonable proportion of residential land will have a positive effect.
the System and the construction, of course, can be discussed and a variety of paths. Our study was designed to note the successful practice of many countries has also been confirmed that the process of urbanization in the rational allocation of housing resources to meet people's basic and improvement of demand for housing, and income to ensure long-term corresponding to the reasonably stable prices, is entirely possible. Now the problem is that the face of too many vested interests, including the Government's own fetters, and how the interests of the majority of people really determined and decision.
Appendix:
seeking real estate tax should be set and then move
Watson
levy on real estate tax issue has been debated, there is the question of its legality, saying the introduction of objective difficulties those who have. In fact, residential real estate ownership tax levy, also known as property taxes, property tax or property tax, is the international practice. As many people imagine all sorts of legal or operational difficulties, many countries already have a mature practice and experience, not a real obstacle. in our country actively preparing for the introduction of real estate tax on the transformation of government functions, to promote the local government fiscal revenue from the land into the financial, housing consumption of a reasonable guide for adjusting income distribution and even the anti-corruption have great significance, it should be firm. The key is to introduce such an unprecedented real estate taxes on the overall tax reform, big tax and tax increases and decreases in the large framework of overall planning, rather than simply as the addition of a new tax sources. Therefore, we must carry out all conditions, including information on legal and fully prepared, and can not be taken lightly, can not have luck, rashly.
introduction of real estate tax, you first need to clarify two misunderstandings. First, urban residents in China only land use rights, not ownership of land has been paid in the case of leasing, rent collection is a repetition, can levy. It should be noted that the property levied by the Government retain tax for urban construction and maintenance and community services, has nothing to do with land ownership transactions. such as the UK property, with land ownership is a large number of villas, known as Freehold, but also do not take land rights, land is leased, such as apartment Suites are often lease hold, but, like the right to use property to pay real estate taxes on time. So in essence, is not on the ownership of real estate tax levy, but the actual occupation of real estate by holding time and the beneficiary tax . Meanwhile, China's current residential property in the name of 50 years or 70 years, in fact, the Government does not and can not be recovered due. damage to or demolition of old houses, whether compensation has been used for many years, still went to a new 70 of property rights. second-hand housing transactions are not the remaining life of fixing prices by property rights. This shows that urban residents in our country for decades of land use rights for 30 years as farmers had the right to contract, as in the concept of law is still vague. So In the formal introduction of the real estate tax, there is a need of the same as land contract, a clear long-term housing and land use rights are the same. This confirmed the legal permanent residents of houses land property rights. unified urban and rural land use the right to change the system of long-term, not only the legal construction of a big step forward, but also for the real estate tax levy to clarify a misunderstanding.
is a myth that the current property tax proposal the relevant ministries, namely, land and new tax legislation around , borrowing enterprises and units operating with real estate property taxes, extended to residential buildings. This approach is difficult to avoid the shortcomings of the existence of three, one is mistaken identity, name is not correct words ring true. the purchase of residential land is always there is room, and the continuous depreciation of the ...